0835 GMT [Dow Jones] The stabilization in the UK's manufacturing sector is unlikely to stop the Bank of England from cutting its key interest rate soon, since the central bank remains convinced the credit crunch will slow growth significantly this year. The manufacturing PMI was unchanged at 51.3, a stronger reading than the fall to 51.0 forecast by economists, but sill pointing to a sector that is expanding only modestly despite the positive impact a weaker pound is likely to have on exports. (PJH)
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(END) Dow Jones Newswires
April 01, 2008 04:35 ET (08:35 GMT) | 
